Few deals can promise the high returns that you can get from ground-up development. Today we bring in ground-up expert Shannon Robnett to discuss this asset class. With 40 years in real estate and having completed over 200 million dollars in construction projects, we open our conversation with Shannon by touching on his career highlights. After sharing why ground ups can be such valuable investments, Shannon dispels the myth that ground ups are always risky, especially when compared with multi-family risks. We chat about how having a reputable and experienced team mitigates most ground-up risks before diving into common challenges that ground ups. Reflecting on how the pandemic has led to huge population shifts, we talk about why now is one of the best times to get into ground-up. Near the end of the episode, Shannon gives listeners his insights into how he picks his projects, the importance of understanding your market, what real estate tool he can’t live without, and the main takeaways from his biggest real estate mistake. Tune in to learn more about lucrative ground-up investing.
Key Points From This Episode:
- Introducing seasoned investor and ground-up expert, Shannon Robnett.
- Shannon shares details about his extensive real estate experience.
- What makes ground up such an excellent asset class.
- Comparing the multi-family risks versus ground-up risks.
- How you can reduce risk when making ground-up investments.
- Exploring the challenges that many ground-ups face.
- How ground-up beginners often make mistakes with their timeline.
- Why now is a better time than ever to get into ground-up investing.
- Hear Shannon’s advice on getting into ground-up.
- Insights into how Shannon picks his market and develops different asset classes.
- The importance of knowing your market when making deals.
- The top real estate tool that Shannon can’t live without.
- Shannon shares the main takeaways from his biggest investing mistake.
- How Shannon grows his business by picking the best possible people for the job.
Tweetables:
“When you’re deploying capital in a risk-mitigated situation and with an experienced group, nothing will get you a bigger return and keep your expenses in line like new construction will.” — @Robnett01 [0:03:49]
“Where I do most of my business, we are coming unglued because of the volume of people that are moving in here at an unprecedented rate. The opportunity is everywhere” — @Robnett01 [0:13:02]
“I don’t have to be a fortune teller. I just need to be plugged into the marketplace and know where there's a need.” — @Robnett01 [0:16:48]
Links Mentioned in Today’s Episode:
Top 70 Multifamily Real Estate Podcasts You Need to Follow in 2021
Passive Income Through Multifamily Real Estate on Facebook